Trading.com Review
How good is trading.com after the XM merger?
!! Regulator Warning !!
FX and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how FX and CFDs work and whether you can afford to take the high risk of losing your money.
Company Details
Trading.com Markets PTY Ltd, ACN 164 367 113, AFSL 443670
Trading Conditions
| Min Trade | USD 1 |
| Min Deposit | USD 50 |
| Base Currencies | GBP, USD, EUR, HUF, PLN, CHF |
| EURUSD Spreads | 1 |
Contact Info
All Reviews
spreads are good only on major assets, but I can�...
spreads are good only on major assets, but I can’t say the sdame about usual assets.
It’s even good for cfd trading, not only for sha...
It’s even good for cfd trading, not only for shares… i didn,t knew this before i tried their cfd account type, which comes with a deposit bonus offer - nice touch
Actually £50 is a decent min, deposit amount. Any...
Actually £50 is a decent min, deposit amount. Anything less will mean)that you need to take bigger risks, it' s not proper trading.
name was strangefor me, but broker is decent. only...
name was strangefor me, but broker is decent. only i wish for better lessons
Trading conditionns on cfd are pretty standard. No...
Trading conditionns on cfd are pretty standard. Nothing special tho
tried bank transfers (ACH), and credit/debit cards...
tried bank transfers (ACH), and credit/debit cards., both withdrawal options work well. Near-instant transfer out, but for bank wire about 5-8 hours needed to pass still, for it to be into my acc.
Interest rate is good on unused funds but they nee...
Interest rate is good on unused funds but they need to provide a debit card
Reliable trading services. Didn’t have any troub...
Reliable trading services. Didn’t have any trouble while trading fx there! Speed payments and sup
many options to pay, but gotta return the withdraw...
many options to pay, but gotta return the withdrawal to your depo metod.
The Good: trading.com has very good customer suppo...
The Good: trading.com has very good customer support and their platforms are very fast. The Bad: trading.com spreads are a bit high. Now in general, I have not had any real issues with this broker and I read than XM clients in UK have now been transferred to trading.com. I hope this will not affect the quality of service.
We explore trading conditions & fees at trading.com
| 👨 Broker | Trading.com Markets UK Ltd |
| 👨 Trading Name | Trading.com |
| 👨 Accepts UK Traders? | Yes |
| 📅 Year Founded | 2018 |
| ⚖ Regulators | FCA UK |
| ⚖ Firm Reference No. | 705428 |
| ⚖ Investor Protection | FSCS |
| 💰 Minimum Deposit | 50 GBP |
| 💰 Minimum Withdrawal | 20 GBP |
| 📈 CFD Trading | Forex, Stocks, Indices, Commodities |
| 📈 Investing | Shares, ETFs |
| 🚀Leverage | 1:30 |
| 💻 Platforms | MT5, Trading.com Mobile App & Web Trader |
| 📋Account Types | CFD Trading Account, Investing Account |
| 💱Account Currency | USD, GBP |
| 📞Live Support | 24/5 |
| 🏖️ Inactivity Fee | $10 |
| 😭CFD Traders Who Lose Money | 70.6% |
| ✅Reason To Trade | Tier-1 regulationLow starting depositYou can choose to trade via CFDs or choose to investZero commission pricing modelDaily interest on uninvested cash |
| ❌Reason To Avoid | No raw spread pricingInactivity feesNo TradingView & cTrader |
Regulation - 10/10
trading.com is regulated by the Financial Conduct Authority (FCA)in the United Kingdom and has Firm reference Number 705428.
trading.com is also a member of the Financial Services Compensation Scheme (FSCS) so UK traders will get investor protection up to 85,000 GBP.
XM Broker is now Trading.com in the UK
The brokers XM & trading.com belong to the same parent company called Trading Point of Financial Instruments UK LTD.
The XM broker in the UK has had its license suspended so its all XM users in the UK were migrated to trading.com.
So the broker XM no longer exists in the UK and they are no longer authorized by the FCA.
Account Types - 5/10
trading.com only has one CFD trading account type and it is a standard account that charges only spread & zero commissions as the major trading fees.
There is also an investment account type for buying & holding real shares & ETFs.
There is no diversity in account types as we see with other brokers and there is no raw spread account. Trading.com has a zero-commission policy & offering raw spread pricing usually requires charging a commission per trade.
trading.com has GBP account currency, as well as USD, EUR, CHF, PLN & HUF account currencies.
At trading.com, you can open a maximum of 5 trading accounts. Managing these accounts is done from your Personal Area on the trading.com app or web trader.
Account Opening Process
Step 1: Registration
The first step is to visit the trading.com website, click on open account, enter your name, email & create a password.
You will get the option of using practice mode on a demo account or going ahead to create a live account.
Click on "complete registration" to proceed to create a live account.
A verification link will be sent to your email; please click on the link inside it to continue with the account opening process.
Step 2: Verify Your Identity
At this point you will need to enter your National Insurance Number, Tax Number & Residential Information.
Step 3: Financial Information
In this step you will be required to enter financial info such as your employment status, source of income, and you would be required to take a short test of your CFD knowledge.
Step 4: Phone Verification
trading.com will send a message to your mobile phone number and you will be required to enter the OTP code found in the message in order to proceed.
After the phone verification, you will need to choose your preferred account base currency and create a MT4/5 password.
Deposits & Withdrawals - 6/10
Trading.com Minimum Deposit
trading.com minimum deposit is 50 USD for UK traders.
Trading.com Minimum Withdrawal
Trading.com minimum withdrawal is 20 USD for all withdrawal methods.
Accepted Deposit/Withdrawal Methods
Trading.com accepts funding & withdrawal through Local Bank Transfer, International Bank Wire & Cards.
You can start investing with 50 GBP and also earn 3.05% daily interest on any uninvested cash in your GBP investing account.
Trading.com Withdrawal Time
Withdrawals by Cards are Instant and this is the fastest way to fund your trading account. Withdrawals by bank transfer can take up to 5 days..
Range of Markets - 7/10
CFDs
Currency traders get to choose from 50 different FX pairs from majors, minors to exotics; which is okay.
Energies are limited to just oil, natural gas & gasoline, but these are the most popular energy CFDs and should be enough for any energy trader.
Precious metals are also listed and gold is available, alongside silver, copper, platinum, palladium.
For soft commodities, there is no livestock but several grains are listed in their product catalogue.
Their indices listing is impressive as not only do you get exposure to the popular indices like NAS100, US30, SP500 etc. you also get exposure to Asian indices. Sever
Trading.com now offers several thematic indices on themes such as crypto10, trumpnomics, etc.
Stock CFDs of over 1,000 companies are listed (including the FAANG) and this should be enough to satisfy any stock trader.
Investing
Open the investing account type and you will get access to owning real shares and ETFs of over 1,000+ companies. The pricing model for investing is a zero-commission one.
Trading.com Fees - 5/10
1. Spread
Trading.com spreads start from 0.8 pips & remember this is a zero-commission broker so their spreads are going to be a little bit higher than industry standards.
However, trading.com does not do a good enough job of showing us the average spread for each instrument; all they show us is the minimum spread which is not very transparent.
2. Overnight Fees
Trading.com will charge you an overnight swap fee if you leave your CFD trades open till the next day.
3. Commission
trading.com makes most of its money from spread & it does not charge any commission.
4. Inactivity Fee
Trading.com charges a 10 GBP inactivity fee on accounts that have not been used for 12 months.
Platforms - 5/10
1. MT5
MT5 is available at trading.com but you don't get the MT4 platform.
2. Trading.com Web Trader
The trading.com Web Trader can be launched directly from the trading.com website and there is no need for installation. You can also manage & fund your accounts from the Web Trader.
3. Trading.com Mobile App
There is also a mobile app which is compatible on android and apple devices and with this app, you can trade CFDs & fund/withdraw from your account.
Customer Support - 8.5/10
1. Live Chat
Trading.com 24/7 live chat is available even on weekends & you don't have to wait more than 1 minute before you are responded to.
2. Telephone & Email
UK telephone help line (not toll-free) is available and you can also send queries to trading.com dedicated email address, or you just make a complaint by filling the complaint form.
3. Help Center
The Help Center is well organized and in addition to the search filter, the topics are properly organized into categories so you can find what you are looking for easily.
4. Education
Trading.com has comprehensive education suitable for beginners but the courses are mostly basic and not advanced.
Final Verdict - 6.7/10
Not a very good broker for beginners or learners. Trading.com lacks sufficient trading tools and doesn't offer a wide range of markets.
Who should use this broker? Experienced traders should use Trading.com but beginners may want to consider more beginner friendly brokers.